Lynn Turner, a former chief accountant at the U.S. Securities and Exchange Commission and the administrator's first witness, testified that PwC made an "incorrect certification" of MF Global's financials by treating the European debt and tax matters improperly.
"Did PwC do their job?" Steven Thomas, a lawyer for the administrator, asked him.
"No, I don't believe so," Turner answered.
The case is MF Global Holdings Ltd as Plan Administrator v PricewaterhouseCoopers LLP, U.S. District Court, Southern District of New York, No. 14-02197.
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